Parallel Advisors LLC Sells 208 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Parallel Advisors LLC lessened its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,174 shares of the technology company’s stock after selling 208 shares during the quarter. Parallel Advisors LLC’s holdings in Check Point Software Technologies were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC boosted its stake in shares of Check Point Software Technologies by 4.2% in the 2nd quarter. Park Avenue Securities LLC now owns 2,508 shares of the technology company’s stock valued at $290,000 after purchasing an additional 100 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Check Point Software Technologies by 1.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,368 shares of the technology company’s stock valued at $736,000 after purchasing an additional 100 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Check Point Software Technologies by 1.3% in the 2nd quarter. Private Advisor Group LLC now owns 8,210 shares of the technology company’s stock valued at $949,000 after purchasing an additional 102 shares during the last quarter. CAPROCK Group Inc. boosted its stake in shares of Check Point Software Technologies by 5.1% in the 3rd quarter. CAPROCK Group Inc. now owns 2,132 shares of the technology company’s stock valued at $233,000 after purchasing an additional 104 shares during the last quarter. Finally, Pinnacle Bank boosted its stake in shares of Check Point Software Technologies by 69.7% in the 2nd quarter. Pinnacle Bank now owns 258 shares of the technology company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. 70.84% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on CHKP. William Blair reaffirmed an “outperform” rating on shares of Check Point Software Technologies in a research note on Tuesday, October 29th. Robert W. Baird reaffirmed a “hold” rating and issued a $120.00 target price on shares of Check Point Software Technologies in a research note on Monday, October 28th. Bank of America lowered shares of Check Point Software Technologies from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $130.00 to $116.00 in a research note on Thursday, September 19th. BidaskClub lowered shares of Check Point Software Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday. Finally, Piper Jaffray Companies initiated coverage on shares of Check Point Software Technologies in a research note on Friday. They set a “neutral” rating and a $117.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Check Point Software Technologies has a consensus rating of “Hold” and an average price target of $118.47.

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Check Point Software Technologies stock traded up $0.83 during midday trading on Friday, hitting $115.42. 692,100 shares of the stock were exchanged, compared to its average volume of 969,194. The stock has a market capitalization of $17.26 billion, a PE ratio of 22.15, a P/E/G ratio of 2.42 and a beta of 0.78. Check Point Software Technologies Ltd. has a 52 week low of $98.57 and a 52 week high of $132.76. The company has a fifty day simple moving average of $109.68 and a two-hundred day simple moving average of $112.71.

Check Point Software Technologies (NASDAQ:CHKP) last issued its earnings results on Monday, October 28th. The technology company reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.04. The business had revenue of $490.91 million for the quarter, compared to the consensus estimate of $490.94 million. Check Point Software Technologies had a net margin of 40.05% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 earnings per share. On average, research analysts forecast that Check Point Software Technologies Ltd. will post 5.51 EPS for the current fiscal year.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a portfolio of network and gateway solutions, management solutions, and data and endpoint security solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against 5th generation mega cyber-attacks across various networks, endpoint, cloud, and mobile; security gateways from platforms for small business and small office locations, high end and high demanding data centers, and perimeter environments; and Check Point SandBlast family for threat prevention and zero-day protections.

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Institutional Ownership by Quarter for Check Point Software Technologies (NASDAQ:CHKP)

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